Tag Archives: Quotations competition competition competition

Whoever claims that economic competition represents survival of the fittest in the …

Whoever claims that economic competition represents ‘survival of the fittest’ in the sense of the law of the jungle, provides the clearest possible evidence of his lack of knowledge of economics. The truth is that economic competition is the very opposite of competition in the animal kingdom. It is not a competition in the grabbing off of scarce nature-given supplies, as it is in the animal kingdom. Rather, it is a competition in the positive creation of new and additional wealth. George Reisman
Author, philosopher